First Trust Large Cap Core AlphaDEX® Fund (FEX)
  • 2023 Estimated Capital Gain Distributions
    Please note that none of our First Trust Exchange-Traded Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Exchange-Traded Funds are expected to pay any special short-term capital gain distributions in December. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - The First Trust Large Cap Core AlphaDEX® Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Nasdaq AlphaDEX® Large Cap Core Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The Index is an "enhanced" index created and administered by Nasdaq, Inc. ("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks from the Nasdaq US 500 Large Cap™ Index that meet certain criteria.
  • Nasdaq constructs the Index by ranking the eligible stocks from the Nasdaq US 500 Large Cap™ Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style.
  • Each stock receives either its growth or value score as its selection score based on its style designation as determined by Nasdaq.
  • The top 375 stocks based on the selection score determined in the previous step comprise the "selected stocks". The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile.
  • The Index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeLarge Cap Core
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End07/31
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.60%
Net Expense Ratio*0.60%
* As of 12/1/2023
Expenses are capped contractually at 0.70% per year, at least through November 30, 2024. The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Current Fund Data (as of 12/7/2023)
Closing NAV1$86.31
Closing Market Price2$86.28
Bid/Ask Midpoint$86.31
Bid/Ask Discount0.01%
30-Day Median Bid/Ask Spread30.05%
Total Net Assets$1,061,638,202
Outstanding Shares12,300,002
Daily Volume45,050
Average 30-Day Daily Volume70,447
Closing Market Price 52-Week High/Low$87.50 / $76.64
Closing NAV 52-Week High/Low$87.55 / $76.67
Number of Holdings (excluding cash)375
Top Holdings (as of 12/7/2023)*
Holding Percent
Deckers Outdoor Corporation 0.56%
Carnival Corporation 0.55%
Uber Technologies, Inc. 0.55%
Royal Caribbean Cruises Ltd. 0.54%
D.R. Horton, Inc. 0.53%
PulteGroup, Inc. 0.53%
DoorDash, Inc. (Class A) 0.52%
Lennar Corporation 0.51%
Capital One Financial Corporation 0.50%
DraftKings Inc. 0.50%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 12/8/2023)4$0.3029
30-Day SEC Yield (as of 10/31/2023)51.54%
Unsubsidized 30-Day SEC Yield (as of 10/31/2023)61.54%
12-Month Distribution Rate (as of 10/31/2023)71.68%
Index Yield (as of 10/31/2023)82.18%
Fund Characteristics (as of 11/30/2023)9
Maximum Market Cap.$2,816,159
Median Market Cap.$35,004
Minimum Market Cap.$6,989
Price/Cash Flow10.21
Bid/Ask Premium/Discount (as of 12/7/2023)